Using the provided information, I will prepare a Balance Sheet and an Income Statement for Tuttle Photo Co.

Balance Sheet

As of December 31, 2018

Assets:

Cash: $15,000

Accounts Receivable: $30,000

Prepaid Insurance: $7,500

Office Supplies: $3,200

Building: $160,000

Accumulated Depreciation - Building: $12,000

Equipment: $75,000

Accumulated Depreciation - Equipment: $8,500

Land: $40,000

Total Assets: $331,200

Liabilities:

Accounts Payable: $12,000

Salaries Payable: $2,000

Unearned Service Revenue: $25,000

Mortgage Payable: $100,000

Total Liabilities: $139,000

Owner's Equity:

R. Tuttle, Capital: $21,290

R. Tuttle, Withdrawals: $23,000

Total Owner's Equity: ($1,710)

Total Liabilities and Owner's Equity: $137,290

Income Statement

For the Year Ended December 31, 2018

Revenue:

Service Revenue: $289,000

Expenses:

Salaries Expense: $61,000

Depreciation Expense - Building and Equipment: $6,150

Office Supplies Expense: $14,040

Insurance Expense: $14,000

Utilities Expense: $20,900

Total Expenses: $116,090

Net Income: $172,910

Utilizando la siguiente informacin, prepare un Estado de Situacin o Balance general (Balance Sheet) y un Estado de Ingresos y Gastos o